3.2 FURTHER CONDITIONS PRECEDENT:..................................... 41

 3.3 LESSEE CONDITIONS PRECEDENT:...................................... 41

 3.4 WAIVER:........................................................... 42

 3.5 POST-CLOSING MATTERS:............................................. 42

4. COMMENCEMENT........................................................... 43

 4.1 LEASING:.......................................................... 43

 4.2 DELIVERY:......................................................... 43

 4.3 DELAYED DELIVERY:................................................. 43

 4.4 TERMINATION FOR NON-DELIVERY:..................................... 44

 4.5 PURCHASE OF AIRCRAFT:............................................. 44

5. PAYMENTS............................................................... 44

 5.1 SECURITY DEPOSIT AND LETTER OF CREDIT:............................ 44

 5.2 RENTAL PERIODS:................................................... 45

 5.3 RENT:............................................................. 45~~


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 ~~5.4 SUPPLEMENTAL RENT:................................................ 45

 5.5 PAYMENTS:......................................................... 51

 5.6 DEFAULT INTEREST:................................................. 51

 5.7 WITHHOLDING:...................................................... 51

 5.8 TAX INDEMNITY:.................................................... 52

 5.9 SALES TAX:........................................................ 52

 5.10 VALUE ADDED TAX:.................................................. 53

 5.11 PAYMENTS; TAX REPORTS; INFORMATION:............................... 53

 5.12 CONTEST OF CLAIM FOR TAX.......................................... 55

 5.13 INDEMNITIES TO BE PAID ON AN AFTER-TAX BASIS/SURVIVAL:............ 58

 5.14 ABSOLUTE OBLIGATIONS:............................................. 58